Crop Production Industry - Key Market Dynamics and Trends 2024-2033

The crop production market size has grown strongly in recent years. It will grow from $5743.28 billion in 2023 to $6254.37 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to traditional farming practices, mechanization, chemical inputs, market liberalization, government subsidies, climate variability.

The crop production market size is expected to see strong growth in the next few years. It will grow to $8570.63 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to genetic engineering, climate smart agriculture, alternative protein sources, regenerative agriculture, circular economy models. Major trends in the forecast period include digital farming platforms, biological pest control methods, autonomous farming equipment, artificial intelligence (ai) in crop monitoring, climate-resilient crop varieties.

Market Overview -
Crop production is defined as the process of raising crops for domestic and commercial use. Crop production is a vital component of sustainable agriculture, which aims to produce food in a way that does not impose any harm to the environment, biodiversity, and quality of life.

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Population Growth Fuels Expansion In The Crop Production Market
The growing population is anticipated to drive the expansion of the crop production market in the future. Growing population refers to the increase in the number of people in a population or dispersed group over a particular time period. As the population grows, there is an opportunity for farmers to benefit from economies of scale by producing more crops and selling them at a lower cost per unit. For instance, according to the U.S. Census Bureau's Vintage 2022, published by the United States Census Bureau, a US-based government agency, the U.S. resident population increased by 0.4%, or 1,256,003, to 333,287,557 in 2022. Therefore, the growing population is driving the growth of the crop production market.

Competitive Landscape -
Major companies operating in the crop production market report are Sinochem Group, Cargill Incorporated, BASF SE, Wilmar International Ltd., Bunge Limited, Olam Group, Bayer AG, CHS Inc., Nutrien Ltd., Syngenta AG, Agrium Inc., Associated British Foods plc, Corteva Inc., The Monsanto Company, Seaboard Corporation, CF Industries Holdings Inc., Israel Chemicals Ltd., The Amaggi Group, Dole Food Company, J.R. Simplot Company, UPL Limited, Fresh Del Monte Produce Inc., Nufarm Limited, Groupe Roullier, The Scoular Company, Gotham Greens Company, Total Produce plc, Sun World International LLC, Birdsong Peanut Company, Baker Creek Heirloom Seed Company, Yara International ASA, Mosaic Company, Archer Daniels Midland Co., Bangladesh Rural & Advancement Committee

Revolutionizing Crop Management
Major companies operating in the crop production market are developing agrirobots, such as SentiV to enhance their productivity, sustainability, and resilience. SentiV is a scouting robot that highlights the variability within field crop plots and detects potential threats to crops. For instance, in January 2023, Meropy, a France-based agricultural machinery manufacturer, launched SentiV, an AI-powered robot crop inspector. It is designed to monitor agricultural parcels and crops and detect harvest threats such as pests, diseases, and weed damage. It is equipped with sensors and cameras and can analyze up to 20 hectares of croplands per day. It is a significant step towards autonomy in agriculture and is expected to revolutionize traditional farming practices by providing farmers with a more efficient and targeted way to monitor their crops.

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Key Segments -

The crop production market covered in this report is segmented -

1) By Type: Grain Farming, Oilseed Farming, Fruit And Nut Farming, Vegetable Farming, General Crop Farming, Greenhouse, Nursery, And Flowers
2) By Farming Process: Organic Farming, Traditional Farming
3) By Application: Food And Beverages, Fodder

Subsegments Covered: Dry Pea And Bean Farming, Wheat Farming, Other Grain Farming, Soybean Farming, Other Oilseed Farming, Orange Groves, Citrus Groves, Noncitrus Fruit And Tree Nut Farming, Chillies and peppers, Potatoes, Lettuce and chicory, Tomatoes, Cauliflowers and broccoli, Onions, All Other vegetables, Tobacco farming, Sugarbeet farming, Sugarcane farming, Cotton farming, Other Miscellaneous Crop Farming, Food Crops Grown Under Cover, Nursery And Floriculture Production

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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